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Signs of weakening of bears

Signs of weakening of bears | 28 August 2015

28 August 2015, GBP/USD

The daily chart: the bottom Bollinger envelope has been broken, but it reached a strong support zone 1.5773. Therefore, it is likely that a rollback up to the middle zone Bollinger band (1.5589) approaching, from where bears will attack to bring the price in the medium-term down again.

Signs of weakening of bears

Н4: support a little deeper - at 1.5727 (Lower Bollinger Band). Local resistance - - 1.5589.

Signs of weakening of bears

Н1: here are signs of weakening of bears - bullish convergence oscillator. 1.5327-1.5371 area could be developed, from which it would be preferable to buy.

Signs of weakening of bears

Expectations: So, we wait for a decline to 1.5327-1.5371, and the pair may begin to rise 1.5530.

Trading solutions:

1) Buy from 1.5327-1.5371 (once we have a signal) to 1.5530.

Aleksey Panasenko
FreshForex Analyst
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